INDEX project to inspire company innovation
A unique alliance has come together in the Midlands to create a positive link between small and medium sized companies and the Universities/ Higher Education Institutions.
The INDEX project will drive forward innovation for business with a £240,000 programme, the first in the UK.
INDEX - INnovaton Delivers EXpansion - will provide 80 companies, with up to 250 employees, the opportunity to receive an innovation voucher, worth £3,000, which they will be able to exchange with any of region's Universities.
Funded by the Regional Development Agency, Advantage West Midlands (AWM), the Economic & Social Research Council (ESRC) and the Engineering and Physical Sciences Research Council (EPSRC), the voucher will allow businesses to gain access to leading expertise at one of the participating organisations, who will work with them to generate real innovation for a particular project.
INDEX is being co-ordinated by Aston University and the closing date forthe first roundof voucher applications -businesses were able apply online at www.indexvouchers.org - is Friday 29th June.
Gil Murray, Assistant Director of CBI in the West Midlands, said: "This project will enable companies in the West Midlands looking to innovate or wanting to solve a problem to tap into the expertise of any of the Universities in the region. This should result in an increase in their bottom line profits and global competitiveness.
"This is a real opportunity for companies, at minimum cost and risk, to work with Universities to result in real improvements.
"Together the Universities have a wealth of hidden expertise and knowledge and this programme will help companies identify and choose a person that will be able to help them. The programme has been designed to be simple for companies to access and break down the communications barriers often associated with Universities.
"Initially there are 40 vouchers available, which will be allocated on a lottery basis to businesses who fulfil the simple qualifying criteria. There will be a further round of vouchers in April 2008.
"INDEX will provide all the information and support businesses need to help them make their choice, to ensure that they get the very best out of this fantastic opportunity.
"Universities really are knowledge providers, and with this pilot project, we will demonstrate how SMEs can choose to engage with Higher Education, and how together we can create some real innovation that should improve bottom line profitability and global competitiveness."
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